Managing a rental home is hard work. While a rental house can be a wise financial investment, it also can put you in the red if you are not careful. If you are not experienced or well-organized, you can easily make costly mistakes that hurt your bottom line.
RECOMMENDATIONS FROM A DALLAS PROPERTY MANAGEMENT COMPANY
Whether self-managing or working with a property management company, Dallas homeowners should consider the following tips to avoid leasing delays or long vacancies. Prepare your property for the next tenants immediately once your previous ones move out. Do not wait to get it in rent-ready condition. Without a curb-appeal, qualified tenants won’t even consider your home.
Make yourself available for showings. Respond quickly to interested individuals. Video tours and images of your rental house are very useful and convenient. This maximizes exposure and allows others to view your home online. In our digital world, reach out to potential tenants by listing your property on a variety of popular websites. When marketing your unit, do more than just a yard sign to avoid adding time to the vacancy.
Price your home appropriately for the rental market. Since prices fluctuate, it is crucial to understand the current market. Too high of a price will discourage tenants while too low of a price will reduce your cash flow. Once you begin to receive applications, make sure your screening process is rigorous and thorough. Verify employment, background, rental history, and credit.
LOOKING TO HIRE A DALLAS PROPERTY MANAGEMENT COMPANY?
Want to leave these tedious tasks up to the professionals? As the nation’s leading property management company, Dallas homeowners know where to turn for reliable and affordable help. The professionals at Specialized Property Management want to help you avoid costly mistakes.
We value your property and money. What is important to you is important to us. With more than 30 years of experience in the rental industry, we understand just what to do to make your investment profitable. Put our experienced team to work for you.